Revenue loss on petrol stands at Rs 1.37/ litre: IOC

State-run refiner Indian Oil Corp is currently incurring revenue loss of 1.37 rupees per litre of petrol sales, its chairman said.

"We see gasoline prices moving up. We have to either raise prices or if there are difficulties due to factors like inflation and drought, we would like the government to compensate us," R.S. Butola told reporters.

Earlier, IOC said its net loss for the June quarter widened to 224.5 billion rupees, from 37.2 billion a year ago.